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ICE 2 Launching This Month

The second tower of ICE Condominiums by Lanterra Developments and Cadillac Fairview is about to be launched. Sales at tower 1 started back in July 2008, and that tower is well over 80% sold out.

The development is part of the York Centre community which is located at York and Bremner. Lanterra and Cadillac Fairview are the developers behind the highly successful Residences of Maple Leaf Square which will be right across the street from ICE. Other Lanterra projects include: WaterParkCity, 22 Wellesley, One Bedford, Murano and Burano, and 18 Yonge street.

Wondering what all the buzz is about for this project? To begin, it is going to be big. Really BIG! The second tower is to be a 65-storey super-tower which would put it in the ultra-exclusive height category that currently only Aura, Trump Tower, Shangri-La, and the Ritz Carlton occupy after the recent death of 1 Bloor.

Also, it is to have a direct underground connection to the PATH system via Maple Leaf Square, the ACC and Union Station. Perks will include being able to leave your coat in your condo as you walk indoors to the 40,000 square foot Longo’s grocery store in the base of Maple Leaf Square, or catch a game or concert at the ACC.

Peter Clewes of architectsAlliance (One of Canada’s resident Starchitects) designed the building and judging by the renderings it will certainly stand out and has real potential to be that landmark building that investors and condo buyers are always looking to be a part of.

It goes without saying that suites will feature stone counters, hardwood floors, stainless steel European appliances, cutting edge design and finishes, and 9′ ceilings. These are not entry level, low-end condos. Prices are going to most likely be in the $600-$650 per square foot range at the launch phase.

Prices and floor plans for the upcoming VIP broker’s sales event should be released soon. If you are interested in buying a suite at ICE 2 prior to the public launch, please contact me.

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U Condos – Sales On Now

Good news for those of you interested in U Condos at Bay and St Mary-the VIP event is coming up this month ON NOW. Please drop me a line if you are interested in purchasing a unit at U Condos.

I just spoke to my contact for U Condos and he informed me that there will be something coming up likely next week. I expect to have some great information for my clients including floor plans and pricing for U Condos by the end of next week.

Floor plans and pricing available now!

The project is looking absolutely spectacular: amazing location, gorgeous architecture by “Starchitect” Peter Clewes of architectsAlliance, top-end finishes, and the floor plans are top-notch.

Prices are in the  $600-$700 per square foot range, roughly on par with College Park Aura, Ice Condos, or 300 Front.

Nov. 4 Update: Plenty of great units still available. Now reserving units until Nov. 6 only! Sales office is NOT open to the public. Please Contact Me and I will send you the latest pricing and floor plans. Tower 2 will not be released until Tower 1 is sold out.

U Condos – Deposit Structure:

• $5,000 with offer
• Balance to 5% of Purchase Price in 30 days
• 5% of the Purchase Price in 90 days
• 5% of the Purchase Price in 270 days
• 5% of the Purchase Price in 365 days
• 5% of the Purchase Price on Occupancy

U Condos -  Maintenance Fees

• $0.45 per square foot including heat, water, building insurance, common elements expenses
• Hydro separately metered

U Condos – Parking/Lockers

• Parking $38,000 – wait list for units under 600 square feet (Innis & Trinity models)
• Lockers $5,700 – Limited release

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• Features and finishes

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International Investors & Developers Have their Eyes on Canada

I came across an interesting post over at New Condos Online about how American developers should start aggressively pursuing Canadian buyers for their product due to the relatively strong Canadian economy and the (until very recently) high Canadian dollar.

This is very timely advice for American developers to consider. Most US Real Estate Markets are still following a downward slide. Prices are still falling, inventory is still massive with little signs of it changing in the near term. Canadian investors are beginning to wonder it things have peaked here in Canada and are starting to look elsewhere for better value and better long-term prospects for price appreciation.

While foreign developers are starting to consider Canadian buyers, foreign investors are still feeling quite bullish on the long-term prospects of condos in markets like Toronto. More and more international investors are looking at purchasing condos in Toronto as investment vehicles, or as temporary residences. Look at recent developments like Ice Condos or Aura. Anecdotal evidence suggests a substantial proportion of buyers in these landmark projects are from outside of Canada. Canada is considered a safe, secure, low-risk place to invest to many outside of our borders.

My own client list is increasingly becoming something of a United Nations. Just in the last year alone I have had new clients originating from the U.K., Dubai, Taiwan, Korea, India, China, and Bangladesh to name a few.

If you are interested in knowing more about investing in Canada and Toronto in particular, please contact me.

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ICE Condos by Lanterra Developments

**OCTOBER 2009 UPDATE: ICE TOWER 2 TO BE LAUNCHED THIS MONTH. CLICK HERE FOR DETAILS.**

ICE condos VIP sales event is coming soon. Register with Andrew now for VIP access to this incredible project! Get in BEFORE the public.

FLOOR PLANS AND PRICING ARE AVAILABLE NOW.

Lanterra is the developer behind the Maple Leaf Square development, right across the street from where ICE will be and a favourite condo for fans of Toronto’s favourite sports team. Lanterra is actually building a total neighbourhood in this previously derelict tract of land that is now in the centre of all the downtown action. Steps from the ACC, Union Station and the TTC, the lakeshore, Roger’s Centre, Entertainment and financial districts.

ICE will be part of a larger community called YORK CENTRE and Lanterra is partnering with the well-known commercial/retail developer Cadillac Fairview. York Centre will consist of a 31 storey 800,000 sq. ft of office tower along with the two ICE residential towers and a 1 acre landscaped public space surrounded with retail outlets.

Units will range in size from 400 sq ft. bachelors to 1100 sq. ft 3 bedrooms. Prices will start from the low $200s.

Three reasons why this project is particulary interesting to investors and first time buyers:

1) Size of the project. Two towers, 55 and 65 storeys high will make ICE one of the largest condos in the downtown core.

2) No assignment fee. This means that if you purchase a unit at ICE and you decide to sell your unit prior to final registration of the building, you can do so for free. No assignment fee to pay to the builder. Normally assignments on pre-construction condos in Toronto are possible but they usually cost the seller around $2500-$5000 depending on the builder and depending on the project. This will be especially important to investors.

3) Building features. Stunningly unique architecture, Leed certification, the largest green roof ever built in Toronto, direct PATH and subway access.

This project is going to be HUGE and is already drawing plenty of attention both here in Toronto and around the world. Please contact me now for floor plans and pricing on this project or if you would like to purchase a suite before the public launch at VIP prices.

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